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Turnaround: Crisis, Leadership, and the Olympic Games

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Overview

Mitt Romney, Governor of Massachusetts, built a career turning around troubled companies. As the CEO of Bain Capital and Bain & Company, he and his firm helped propel the success of hundreds of companies, from venture start-ups to the world’s largest corporations. In 1999, the Salt Lake Winter Olympic Games Organizing Committee turned to him to take over and run the Salt Lake Olympic Games. Romney was reluctant—and with good reason.

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Turnaround: Crisis, Leadership, and the Olympic Games

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Overview

Mitt Romney, Governor of Massachusetts, built a career turning around troubled companies. As the CEO of Bain Capital and Bain & Company, he and his firm helped propel the success of hundreds of companies, from venture start-ups to the world’s largest corporations. In 1999, the Salt Lake Winter Olympic Games Organizing Committee turned to him to take over and run the Salt Lake Olympic Games. Romney was reluctant—and with good reason.

Sullied by scandal, on the brink of financial disaster, and with federal investigators, bankers, and the press at its door, the Salt Lake Organizing Committee’s senior managers admitted the organization was paralyzed. But Romney had too much American patriotism to let it become a catastrophe for his country. So he accepted the biggest turnaround challenge of his life.

In Turnaround, Romney reveals how he tackled the seemingly insurmountable obstacles facing the Salt Lake Winter Games. In Turnaround, you’ll learn how Romney and his management team:

-eliminated a financial crisis and delivered a profitable Olympic Games;
-built a culture of excellence that inspired gold medal performances from the employees;
-skillfully won the support of government officials, corporate sponsors, local residents, athletes and the international Olympic movement.

With Romney at the helm, and through the teamwork, tenacity, and creativity of the staff he assembled and supported, the organizing committee succeeded against the odds in producing one of the finest Olympic Games ever - a proud moment for America, a great installment in Olympic history, and a valuable object lesson in what effective management and leadership can do.
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Editorial Reviews

Publishers Weekly
It's not well remembered, but the planned 2002 Salt Lake City Olympics were scandal-ridden and in complete disarray until Romney took over as CEO in early 1999. In this management primer, he makes his rescue job seem very simple: he came in, displayed a positive attitude and hired competent, committed people, and the result was a successful Olympics that few had thought possible. That same attitude is displayed throughout this book, as Romney is quick to credit those around him for the games' success. He's thorough as he details how he revamped the budget, kept costs down and marketed the games to sponsors. His self-deprecating honesty is refreshing and appealing. As he writes after emphasizing the importance of selling the games: "I know there are people out there who love to sell, but it is far from my favorite thing." He's also honest about his criticism of the Salt Lake City leaders who were tainted by their efforts to buy votes from International Olympic Committee members to get the city the games. The same traits that make Romney, now the governor of Massachusetts, an unobtrusive leader don't always serve the book; some readers will want to see more sparks fly. But those looking for a training manual in how to run a high-profile organization will be rewarded. Agent, Mel Berger. (Aug. 4) Copyright 2004 Reed Business Information.
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Product Details

  • ISBN-13: 9781596985148
  • Publisher: Regnery Publishing
  • Publication date: 6/8/2007
  • Pages: 397
  • Sales rank: 518,649
  • Product dimensions: 5.90 (w) x 8.90 (h) x 1.30 (d)

Meet the Author

More by this Author

Table of Contents

Ch. 1 Sizing up the Olympics 1
Ch. 2 Anatomy of the crisis 23
Ch. 3 Strategic audit 39
Ch. 4 Building the team 59
Ch. 5 Culture 83
Ch. 6 The budget 105
Ch. 7 Uncertain revenues 117
Ch. 8 Negotiation and the IOC 141
Ch. 9 The face of SLOC 169
Ch. 10 Ongoing marketing efforts 195
Ch. 11 Funds from the feds 225
Ch. 12 Reaching into the community 243
Ch. 13 SLOC and the Mormon church 269
Ch. 14 Securing the Olympic games 285
Ch. 15 September 11 301
Ch. 16 Heart and meaning 315
Ch. 17 The games have arrived 343
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Customer Reviews

Average Rating 4
( 14 )
Rating Distribution

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(10)

4 Star

(1)

3 Star

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2 Star

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1 Star

(3)

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Sort by: Showing all of 14 Customer Reviews
  • Anonymous

    Posted April 2, 2012

    AMAZING

    Great book! Mitt Romney is a great author! He will make a President! #Mitt2012

    2 out of 2 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 18, 2007

    leadership ability that counts

    governor romneys book 'turnaround' is a must read for anyone looking to get there life or work or relationship turned around. this executive took control of some sporting games that were rid with scandal and brought in some effective managment and got things turned around and from reading this book I was very impressed with the leadership skills that governor romney used to bring money to the sports games.this exective leader has brought alot of great public relations for massachusetts.

    2 out of 3 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted December 17, 2014

    Re: :(:(

    Hah ya i dont think so. Obama is equal to rotten molding retched old meat that is decomposing in some old dump somewhere. Some old dump like he is. <p> -0 stars

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted March 13, 2013

    Romney is awsome!!

    Everybody who voted for obama is gonna be srry in 2016!! People have to understand tht gay people are not doing whts right its plain wrong!! Nobodys gay! Yeah vote for obama? Vote for change? People your voting for vwht u had for the last four years!!!

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted February 17, 2013

    :( :(

    Obama is better than u

    0 out of 2 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 8, 2013

    Love the book

    Wish he was our President Great Man of God

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted November 29, 2012

    To screw ga y ppl

    t('-'t) Do u realize how rude that is i feel bad for the mother fu**er u call ur dad or mum ur kidding rite? I have ga y friends and they didnt do anything wrong to ur stupid a$$ so SHUT THE HEII UP!!!! this is coming from a twelve year old who has more intelligence in her little pinkie than ur whole da mn body retard! I am a true Obama fan im not gonna hide that. Mitt romney is a gaf (say gaf backwards)

    0 out of 1 people found this review helpful.

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  • Anonymous

    Posted November 7, 2012

    Screw gay marriage

    I dont hate gay people but u should listen to a book that has been used to guide peope for a few thousand years.its called the bible

    0 out of 1 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted October 29, 2012

    Mitt Romney worries me

    The man that is increasing risk of sexual abuse and banning feminine products should be our president? Not to mention his healthcare plan is crap, and he's making gay marriage illegal. Obama over this man anyday. Because I believe women should have comfort and support after sexual abuse, not being labeled and looked down on because a man forced them. Because I believe people should marry who they want. Because I believe that people should get help when they need it. Because I believe tampons and pads should be legal. Mitt Romney is a sociopath. Vote Obama.

    0 out of 2 people found this review helpful.

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  • Anonymous

    Posted October 5, 2012

    .

    Romney #1 for President.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted July 10, 2012

    Romney is a sociopath

    Romney speaks with forked tongue.

    0 out of 3 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted March 20, 2012

    more from this reviewer

    I Also Recommend:

    Willard Mitt Romney's 2004 TURNAROUND is about his "turning

    Willard Mitt Romney's 2004 TURNAROUND is about his &quot;turning around&quot; from 1999 - 2002 of SLOC -- the Salt Lake Organizing Committee for the 2002 Winter Olympics. He makes it clear that the book is a case study in building, inspiring and leading a team of thousands, turning around the 2002 winter games from a suicidal rush into red ink into a $56 million profit. Beginning with Timothy Robinson &quot;with&quot; whom he wrote TURNAROUND, Mitt Romney singles out for praise (and very occasional criticism) dozens of his major collaborators, donors, facilitators and contacts in state houses, White House and the federal, state, county and city bureaucracies that were crucial to Olympic success. ***

    Romney applied to the Winter Games lessons learned while simultaneously earning at Harvard graduate degrees in law and business and during two decades as business super-star in Massachusetts. There, first with Bain &amp; Company (international consulting) and later with the Bain Capital that he founded, Romney wed the data-rich case study Harvard Way with the Bain Way for embedding outside advisors in floundering companies and leaving them there continuing to work after their reports had been done. All &quot;Bainiacs&quot; knew that they had to spend their first several weeks with a client doing a &quot;Strategic Audit,&quot; learning everything important about the sinking firm, its competition, its staff, it customers and then fixing things, becoming profitable. ***

    Part of the Bain Way was to hire great staff and use them wisely. For no little time Romney thought that it was a CEO's duty not only to unleash great talent but to tame it, to persuade the employee to work to correct weaknesses. Later he adopted another idea from a company that the Bainiacs had once advised: Staples. Tom Stemberg, founder and CEO of Staples, once talked with Romney about his Staples management team. &quot;Tom started talking about flat sides and how he was rounding them. Flat sides? ... he had found it a lot more productive to get a great talent to focus on his or her strengths than to struggle with their weaknesses. 'Get someone else to do what they don't do well: you hired them for what they do better than anybody else.'&quot; ***

    &quot;I recruited for big brains, big talent, rainmakers and super managers. I didn't worry about the weaknesses.&quot; ... I did my best to bring out their strengths and find others to complement their weaknesses (Mitt Romney) Ch. 4, &quot;Building the Team.&quot;

    Willard Mitt Romney, Harvard case study man, Bain Way Bainiac, emerged from the 2002 Winter Olympics a hard-wired Bainiac, a &quot;Turnaround Kid.&quot; Next thing you know he applied Olympics lessons to politics and won four years in Boston's State House as Governor of Massachusetts. He was now an international celebrity. ***

    TURNAROUND is essential reading in 2012 for anyone who wants to know what lessons in problem solving and turnaround have been pounded into Mitt Romney's psyche, what approaches he will likely follow if he enters the White House in January 2013. -OOO

    0 out of 1 people found this review helpful.

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  • Anonymous

    Posted November 20, 2008

    No text was provided for this review.

  • Anonymous

    Posted July 27, 2009

    No text was provided for this review.

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